Construct · 1 fields · 1 citations

labor as a quasi-fixed factor: a standalone construct

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Labor economics

view that hiring and training costs make labor partly a fixed input, so firms keep skilled workers in downturns and lay off less skilled workers first.

In labor economics, labor as a quasi-fixed factor refers to view that hiring and training costs make labor partly a fixed input, so firms keep skilled workers in downturns and lay off less skilled workers first. This meaning comes from Oi (1962) in Journal of Political Economy.[1]

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Nearby constructs

factor3 fields · 4 citationsjingle · one word, three constructs labor4 fields · 4 citationsjingle · one word, four constructs training3 fields · 5 citationsjingle · one word, three constructs

References

Oi, W. Y. (1962). Labor as a Quasi-Fixed Factor. Journal of Political Economy, 70(6), 538-555. https://doi.org/10.1086/258715

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